Kandi Technologies acquires 51 percent stake in energy storage firm

• Kandi Technologies (NASDAQ:KNDI) agreed to acquire a 51% controlling stake in Hangzhou Xinchu New Energy for RMB20 million (about US$2.9 million) in cash.
• The transaction marks Kandi’s entry into the AI data center backup power and energy storage market.
• Closing is expected in July 2026, leveraging Xinchu’s lithium battery and BMS solutions for data centers and telecom infrastructure.

Kandi Technologies (NASDAQ:KNDI) has agreed to acquire a 51% controlling stake in Hangzhou Xinchu New Energy for RMB20 million, approximately US$2.9 million, in cash.

The transaction is expected to close in July 2026.

This acquisition establishes Kandi’s entry into the AI data center backup power and energy storage sector.

Hangzhou Xinchu New Energy provides lithium battery and battery management system solutions for data centers and telecom base stations.

The deal allows Kandi to leverage Xinchu’s technology and expertise in the rapidly growing energy storage market driven by AI infrastructure demand.

Kandi Technologies continues to expand its presence beyond electric vehicles into complementary clean energy and energy storage solutions.

The company aims to capitalize on opportunities in high-growth sectors such as data center power infrastructure through strategic acquisitions.